In January 2024, Uruguay’s unemployment rose but stayed under 8.6 percent, with approximately 1,750,000 total workers and 154,000 job seekers. The informal employment rate reached 21.3 percent amid several labor conflicts and the closure of Yazaki’s operations in the country.
In January 2024, unemployment in Uruguay experienced a rise; however, it remained below the previous year’s figure of 8.6 percent. The National Institute of Statistics (INE) reported that the total workforce in January comprised approximately 1,750,000 individuals, while around 154,000 were actively seeking employment. This figure indicates a decrease in the number of job seekers compared to the same month last year.
Additionally, the informal employment rate in Uruguay stood at 21.3 percentage points, highlighting ongoing challenges within the labor market. These statistics were disclosed amidst reports of thousands of workers relying on unemployment insurance, the risk of job losses in various sectors, and ongoing labor disputes. Notably, foreign investments have also been impacted, exemplified by the closure of operations by Japanese auto parts manufacturer Yazaki in the country.
The recent rise in unemployment in Uruguay’s labor market, although remaining lower than the previous year’s figures, reflects ongoing economic challenges. With a large proportion of employees in informal sectors and reports of job losses, the situation presents significant concerns for policymakers and labor organizations. The recent closure of a significant business reinforces the need for effective strategies to address unemployment and foster economic stability.
Original Source: www.plenglish.com
